Nordic Mining (NOM)

[busk1]

Spennende. Noen som stiller på presentasjonen hos SB1M?

[Manjana]

Endelig! Skulle ønske jeg kunne dra på presentasjonen, men får nøye meg med å lese det som legges ut på nett.

[toretunell]

Hva er scenarioene når DFS legges frem? Kan denne være dårligere enn det som prises inn nå om dagen? Hvor høyt kan verdien gå før byggestart?

[busk1]

Fossum har sagt at kostnadssiden har økt, men at prosessoptimering m.m. mer enn kompenserer for dette i en nåverdiberegning. Det gjenstår jo å se om dette fortsatt henger på greip. Høyere byggekost betyr jo at mer penger må skaffes enn tidligere anslått.

[Tassrass]

Aksjen har gått mye senere tid. Tirsdag får vi DFS. Kan gå begge veier. Har selv sikret gevinst men tror det kan bli trangt i døra likevel dersom presentasjonen er positiv. Kalkulert risiko. Er mer engstelig til hva er videre progresjon med hensyn på evt nye emisjoner og finansiering. Noen som har satt seg mer inn i dette?

[Manjana]

Personlig er jeg rimelig sikker på at det kommer en emisjon med/etter DFS. Det er et godt tidspunkt å sette den på, og de kommer til å trenge mer penger frem til de lander finansiering. FEED er finansiert med forrige emisjon, så en veldig stor emisjon tror jeg nok det ikke blir. I det minste blir det satt til en bedre pris.

Selskapet guider FEED ferdig rundt Q3, og finansiering deretter. Så det er et stykke igjen til endelig investeringsbeslutning og byggestart. Det er aldri dumt å sikre gevinst, tirsdag kan gå begge veier og det er mange børsdager frem til byggestart, enda flere børsdager frem til produksjon.

[busk1]

Forrige emisjon skulle dekke fullføring av DFS, ikke hele FEED-perioden. De valgte å hente bare halvparten av de ca 70mkr de anslo var nødvendig for å komme gjennom til byggefinansiering fordi beløpet var usikkert og avhengig av at DFS ble ferdig etter planen. Jeg forventer derfor en emisjon på 30-50mkr nokså rett etter DFS.

Noen mener dette kan skaffes på andre måter, f.eks. banklån. Jeg mener det er en dårlig ide å ta opp gjeld rett før de skal begynne å forhandle med banker om best mulig lånefinansiering av byggefasen. Jeg tror også at innskudd/forskudd fra partnere nå mot varer levert senere er noe de bør vente med til byggefinansieringspakken skal sys sammen.

Forrige emisjon var fortrinnsrettet med omsettelige tegningsretter. Jeg synes det fungerte bra . Tegningsrettene hadde alltid positiv verdi og aksjen holdt seg over emisjonskursen etterpå. Håper de kjører samme mal en gang til. Jeg er forberedt på skyte inn min andel så lenge DFSen er bra.

[Manjana]

Sant det du sier, jeg må ha husket feil angående FEED.

Hvis jeg husker rett i at de har en fullmakt på opp til 20% så er det drøyt 33,7 millioner aksjer. Si en kurs på rundt 2,8-3 er det drøyt 90-100 millioner kroner, men det er gitt at de tar den helt ut. Men det gir ihvertfall stort rom til å hente nødvendige penger for ut året. Banklån eller annen type finansiering er nok utelukket.

Jeg vil si at omsettelige tegningsretter er det beste valget, men ingen skam om det blir kun rettet mot eksisterende aksjonærer heller. Det eneste jeg tror står mot omsettelige tegningsretter er at det vil ta lenger tid å gjennomføre.

Nå er det heller ikke lenge til driftslisensen avgjøres! Forventet iløpet av kvartalet. Spennende tider.

[busk1]

Litt forberedende lesestoff før vi får servert DFS for Engebø i morgen tidlig:
how-to-value-junior-mining-stocks

Et par utdrag som kanskje kan være av interesse for flere her på (bio)TekInvestor:

One of the most confusing topics for a less than experienced investor (and the most frequently obscured by brokers who rarely produce the calculations) is the correct valuation of a company with a project not yet up and running. Biotechs as well as miners are in this position, but the principles apply universally.
Projects are usually presented to investors with an NPV (a net present value – approximately the long term profit minus the initial cost to build). Inexperienced investors make the mistake of thinking that if the company ‘owns’ the project, then the present shareholders ‘own’ the NPV and that, therefore, the NPV is the value of the company.
That is only so if the project is up and running and paid for, or the company possesses the necessary funds to build it. If it doesn’t, then to raise them it will have to ‘give away’ or share a (sometimes extremely large) part of that NPV with the fund providers – whether these are outside lenders or new and existing shareholders buying new equity shares.

Og en liten advarsel, gitt at PFS for Engebø hadde pre- og post tax IRR på hhv 23,8% og 20,8%. Krysser fingrene for en bra økning av IRR i DFS-rapporten.

For a good mining project the IRR needs to be at least 30-40% and some are much higher, but others are closer to the 20% which, in my view, indicates an only marginally attractive project – unless for a solid business with guaranteed offtake and prices, like energy generation (but, again, depending on other factors in the equation).

[TekBot]

The definitive feasibility study reinforces Engebø as a world class rutile and garnet project

Nordic Mining ASA (“Nordic Mining”) has completed the definitive feasibility
study (“DFS”) for the Engebø rutile and garnet project (“the Project”). The
study reinforces Engebø as a world class rutile and garnet project with long
…

Vis børsmeldingen

-term industrial benefits and attractive financials. The Project will be
developed in accordance with high international standards for environment,
health and safety during construction and operation.

The key results are provided in this release and in the attached DFS
presentation. The Executive Summary of the DFS is available on
https://www.nordicmining.com/operations/engebo/.

At 09.00 (CET) today, Nordic Mining will host an open presentation of the DFS in
Oslo. The presentation can also be followed on webcast. Further details
regarding the presentation and the webcast are provided below.

Key DFS results

· The dual-mineral production of rutile and garnet in a combined, optimized
process provides profitable and robust Project financials:

· Pre-tax NPV@8% of USD 450 million
· Pre-tax IRR 21.9%
· Post-tax NPV@8% of USD 344 million
· Post-tax IRR 19.8%

· Strong cashflow and short payback support bankability:

· Average annual free cashflow first 15 years of USD 70m
· Net Project operating cashflow (undiscounted) of USD 2,160m
· Initial capex of USD 311m and deferred capex of USD 25m (underground)
· Pay-back period < 5 years

· Low production cost provides competitive strength:

· Outcropping and geotechnically stable orebody
· Low stripping ratio
· High-grade rutile and garnet
· Short distance and gravimetric driven ore transportation (vertical

underground ore shaft) minimize transportation
· Short distance and favorable logistics to main markets
· 1st quartile revenue-to-cost position for rutile

· Optimized mining plan and scheduling support an initial 42 years Project
life with 1.5 mtpa Run of Mine (ROM) operation:

· 15 years of open pit mining and high-grade processing, and stockpiling of

medium/low-grade ore
· 19 years underground production
· 8 years production with no mining costs based on stockpiled ore
· Further Project life extension possible based on substantial inferred
resources

· Main permits granted; remaining regulatory permits in process:

· Granted permits:
  · Extraction permits for the whole deposit
  · Landowner agreements for open pit, infrastructure and process plant

areas
· Detailed zoning plan for all operations for the life of mine
· Environmental permit

· Permits in process:
  · Operational license
  · Zoning plan for pipeline for fresh water

· High environmental and social standards in accordance with IFC Guidelines
and relevant Equator Principles:

·
  · Environmental:
    · Low carbon footprint and limited land use due to tight Project

infrastructure, minimal internal transportation and accessible sea freight for
transport to market
· Renewable hydroelectric power as the main source of energy
· Clean mining operation with no acid drainage and inert minerals

  · Social:
    · Cornerstone operation with 105 full-time employees
    · Substantial regional indirect benefits for supplier and services

industries
· Positive impacts on people’s livelihood, education - and work
-opportunities and cultural flourishment
· Stakeholder engagement to ensure good dialogue with neighbors,
communities and other interest groups

Comments from Nordic Mining

CEO Ivar S. Fossum comments:

"The DFS summarizes the comprehensive work undertaken in all aspects of
technical and commercial fields to reduce and mitigate risks and provides a
strong and robust platform for execution of the Engebø Project. We have
demonstrated production of high-quality rutile and garnet products with
sustainable resource utilization.

The Project will be developed in accordance with high international standards
for environment, health and safety. We will establish programs and initiatives
to strengthen stakeholder dialogues and to monitor and mitigating environmental
effects.

Our Project team together with a broad group of competent advisors has
progressed and matured the Project to an execution-ready level. We now look
forward to progress the Project financing and set course for construction and
production."
Project activities going forward
Nordic Mining will now proceed with detailed engineering (FEED). In parallel,
contract discussions with potential suppliers of equipment and services will be
initiated.

Dialogues with offtake partners for rutile and garnet will continue with a
target to secure bankable terms and conditions. The banks’ due diligence is
ongoing. Subject to construction financing, the target is to start construction
activities before the end of 2020.

DFS Presentation, webcast and Executive Summary
Enclosed with this release is the DFS Presentation which will be presented today
at 09.00 (CET) followed by a Q&A session. The presentation will be held in
Sparebank1 Markets’ offices in Olav V’s gate 5 (ground floor auditorium) in
Oslo. We invite shareholders, investors, analysts and media to attend the
presentation.

The presentation and Q&A session will be held in English and transferred via
webcast. There will be opportunity to post questions online throughout the
webcast session. The webcast will be available on:

https://channel.royalcast.com/webcast/hegnarmedia/20200128_1/

The Executive Summary of the DFS will be available at Nordic Mining’s webpage,
www.nordicmining.com.

For questions, please contact CEO Ivar S. Fossum, telephone +47-930 96 850.
Oslo, 28 January 2020
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or the “Company”) is a resource company with
focus on high-end industrial minerals and metals. The Company’s project
portfolio is of high international standard and holds significant economic
potential. The Company’s assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Nordic Mining also holds 18.5% of the
shares in Keliber Oy, which is developing a lithium project in Finland to become
the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various
stages of development. This includes patented rights for a new technology for
production of alumina and exploration of seabed minerals.

Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Kilde

[toretunell]

Noen teorier om hvor skuffelsen ligger?

[Manjana]

Trenger ikke nødvendigvis være skuffelse som ligger bak dette, men heller at aksjen allerede har gått svært godt på forventningene til DFS og nå tas gevinst samtidig som mange nye småsparere har kommet inn på toppen og løpt ut igjen på fallet idag. Ihvertfall slik jeg har oppfattet det etter å ha fulgt med på HO og Shareville. Langt ifra uvanlig at en aksje som har gått så godt på forventninger, faller kraftig tilbake på selve fremleggelsen.

Jeg tipper annonsering av emisjon etter børs idag, rundt intervallet 2,7-2,8 kr.

[TekBot]

Nordic Mining ASA: Contemplated private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES (OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
…

Vis børsmeldingen

UNLAWFUL). THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Nordic Mining ASA (“Nordic Mining” or the “Company”) has retained Clarkson
Platou Securities AS and SpareBank 1 Markets AS as joint lead managers (together
the “Managers”) to advise on and effect an undocumented private placement of new
shares directed towards Norwegian and international investors after the close of
Oslo Stock Exchange today (the “Private Placement”).

Private Placement

In the Private Placement, the Company is offering up to 28.7 million new shares,
representing up to approximately 17 % of the outstanding capital of the Company.
The price in the Private Placement will be determined through an accelerated
bookbuilding process to be conducted by the Managers. The minimum application
and allocation amount have been set to the NOK equivalent of EUR 100,000. The
Company may however, at its sole discretion, allocate an amount below EUR
100,000 to the extent applicable exemptions from the prospectus requirement
pursuant to the Norwegian Securities Trading Act and ancillary regulations are
available.

Use of proceeds and procedure

The proceeds from the offering will be used primarily to finance the Engebø
project until the construction financing has been secured. This includes all
activities relating to front-end engineering and design (FEED) and to secure a
financing package.

The bookbuilding period for the Private Placement opens today at 16:30 CET and
closes on 29 January 2020 at 08:00 CET. The Managers and the Company may,
however, at any time resolve to close or extend the bookbuilding period, or
cancel the Private Placement, at their sole discretion and on short notice. The
new shares to be issued in connection with the Private Placement will be issued
based on a Board authorisation granted by the Company’s general meeting held 13
September 2019. Allocated shares are expected to be settled on or around 31
January 2020 through a delivery versus payment transaction on a regular T+2
basis. However, the new shares will not be tradable before the new capital is
registered by the Norwegian Register of Business Enterprises, expected on or
about 30 January 2020, based on a pre-payment agreement with the Managers.

The Company has considered the Private Placement in light of the equal treatment
obligations under the Norwegian Securities Trading Act and Oslo Børs’ Circular
no. 2/2014 and is of the opinion that the waiver of the preferential rights
inherent in a private placement is considered necessary in the interest of time
and successful completion of the Private Placement in order to obtain the
proceeds necessary to finance the Engebø project.

For more information, including risks associated with the investment, see the
attached company presentation.

For additional information please contact Clarksons Platou Securities (+47
22016301) or SpareBank 1 Markets (+47 24147470).

Completion of Engebø Definitive Feasibility Study (“DFS”)

Nordic Mining has completed the DFS for the Engebø rutile and garnet project
which reinforces Engebø as a world class rutile and garnet project with long
-term industrial benefits and attractive financials. The Project will be
developed in accordance with high international standards for environment,
health and safety during construction and operation.

The key results were provided in a stock exchange notice this morning and is
available at https://newsweb.oslobors.no/message/494057/ The Executive summary
and a webcast of the presentation are also available at the corporate website
https://www.nordicmining.com/operations/engebo/.

Trading update

In the first quarter of 2019, and following a share issue in Keliber where
Nordic Mining was diluted from 22% to 18.5% ownership, the Company consequently
assessed that it no longer imposed significant influence and reclassified the
investment in Keliber from an Associate to a Financial Asset Measured at Fair
Value Through Profit and Loss under IFRS 9 (“FVTPL Method”). The
reclassification resulted in recognition of a gain on investments of NOK 97.9
million in the first quarter of 2019 which was based on the share issue price of
EUR 49.

The share issue price of EUR 49 was considered an appropriate reference of
Keliber’s value and the EUR share value applied as basis for the valuation of
the investment as of 30 June and 30 September 2019 was not changed. However, due
to currency effects, the accumulated gain at the end of the third quarter of
2019 was NOK 100.6 million. Balance sheet value was NOK 115.9 million.

Since 30 September 2019, Keliber has made several positive announcements
including increased mineral resources, improved recoveries and increase in
reserve estimates. However, it has also announced that its lithium project will
be delayed by at least one year compared to previous estimates. In addition, and
despite a positive long-term outlook, conditions for the global lithium market
has softened due to weak spot prices. This has adversely impacted Keliber’s
progress on securing offtake directly as well as driven down the general market
sentiment/valuation.

Due to the complexity in estimating the impact of the news flow in the updated
fair value calculation of the investment, the Company engaged a reputable
independent valuation expert with significant experience within the mining
industry. The valuation is based on estimates and assumptions regarding future
commodity prices as well as transactions in comparable assets and valuation of
similar listed entities.

The Company considers the long-term outlook for lithium to be positive despite
the pressure on spot-prices. The Company assessed the external valuation, which
provided a range, and narrowed it down to the mid-range of EUR 38.5 per share
which implies a total value of Keliber of EUR 49.7 million (NOK 90.8 million for
the Group’s share). The investment is under the tax exemption and no tax is
therefore calculated. The estimated resulting implications for the financial
statements for 2019 are as follows:

                    Q4-19       2019

Balance sheet value NOK 90.8m NOK 90.8m
(Loss)/gain NOK (25.1)m NOK 75.5m

Unaudited preliminary balance sheet:

                                        31.12.2019  31.12.2018
                                        Unaudited    Audited

ASSETS
Non-current assets
Evaluation and exploration assets 26.1 25.6
Financial assets 90.8 0.0
Investment in associate 0.0 21.3
Other non-current assets 0.6 0.2
Total non-current assets 117.5 47.1

Current assets
Trade and other receivables 4.0 2.5
Cash and cash equivalents 30.6 49.9
Total current assets 34.7 52.4

Total assets 152.2 99.6

SHAREHOLDERS’ EQUITY LIABILITIES
Total equity 143.8 89.5

Non-current liabilities 0.7 0.8
Current liabilities 7.6 9.2
Total liabilities 8.3 10.0

Total shareholders’ equity and liabilities 152.2 99.6

For additional information, please contact: Birte Norheim, CFO, +47 95 29 33 21

Oslo, 28 January 2020

Nordic Mining ASA

Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or the “Company”) is a resource company with
focus on high-end industrial minerals and metals. The Company’s project
portfolio is of high international standard and holds significant economic
potential. The Company’s assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Nordic Mining also holds 18.5% of the
shares in Keliber Oy, which is developing a lithium project in Finland to become
the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various
stages of development. This includes patented rights for a new technology for
production of alumina and exploration of seabed minerals.

Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.

Kilde

[busk1]

Du traff bra med den spådommen. Tipper de må ned mot 2.50 for å få solgt alle aksjene.

Skjønner ikke helt hvorfor de ikke går for en fortrinnsrettet emisjon som forrige gang.

[Hakon]

Klar for å kjøpe

[Manjana]

Godt mulig de må lenger ned ja, overrasket over at kursen sluttet så lavt. Sikkert en avgjørelse tatt på grunnlag av kursutviklingen, men er litt skuffet. Hadde håpet å få delta, men sikkert ikke usannsynlig å få kjøpt over markedet til en tilsvarende pris eller bedre.

[Kronn]

Se her ja, ikkje rart aksjen falt i grus idag da, pumpet godt opp i forkant og emisjonen satt på dagens melding, god gammel oppskrift det ja

[Tassrass]

Ta lærdom, dette er typisk for denne type selskap som er helt avhengig påfyll slik som biotech også. Se sist på TRVX. I NOM lot de oss suge på karamellen frem til i dag slik at kursen kunne løftes etter melding om presentasjon DFS. Solgte meg ut i forkant av helgen da dette var ventet. Har tatt lærdom tidligere🙈

[uselessh]

2 nok per aksje meldes det.

[Tassrass]

Ser det i flere fora men er det bekreftet og hvor?